Investors Still Hate the ’Hated Bull Market’
Wall Street Journal – 4 hours ago
Six years after the financial crisis, advisers still struggle to nudge some risk-averse clients into the market or to keep them there.
CONTAGION—How market selloffs happen
Fortune – 5 hours ago
Why does investor panic suddenly take hold? Here, the fourth installment of a new Fortune series on how things spread.
Increasingly, Retirees Dump Their Possessions and Hit the Road
New York Times – 7 hours ago
More retired Americans are getting rid of their homes and traveling, with 360,000 of them receiving Social Security benefits at foreign addresses.
Divisions Grow as a Downturn Rocks Europe
New York Times – 9 hours ago
Leaders are battling a raft of problems, including deflation and unemployment, and many are increasingly taking issue with Germany’s austerity mantra.
Why we need a fiscal backstop
VOX – 7 hours ago
The Elfenbein Theory Which Explains the Entire Stock Market
Crossing Wall Street – 3 days ago
Abnormal Returns: Wednesday links: for what ends
@howardlindzon: RT @StockTwits: Saturday $STUDY Session: Introducing -- The Elfenbein Theory which explains the stock market [link] via @Ed…
@StockTwits: Saturday $STUDY Session: Introducing -- The Elfenbein Theory which explains the stock market [link] via @EddyElfenbein
@SconsetCapital: RT @EddyElfenbein: In case you missed it, everyone is talking about my post from this morning. [link]
@TMFHousel: "The first thing to understand is that the stock market is overwhelmingly influenced by interest rates @EddyElfenbein [link]
German Bonds Advance for Eighth Month in Longest Run Since 2005
Bloomberg – 10 hours ago
German 10-year bonds advanced this week, completing the longest run of monthly gains since January 2005, after European Central Bank President Mario Draghi fueled bets that officials will expand stimulus to revive the economy.
@SonyKapoor: Better headline: "#Eurozone sinks deeper" @FGoria German Bonds Advance for Eighth Month in Longest Run Since 2005[link] …
@FGoria: German Bonds Advance for Eighth Month in Longest Run Since 2005[link]
@pdacosta: German Bonds Advance for Eighth Month in Longest Run Since 2005 [link]
Social sciences suffer from severe publication bias
nature.com – 1 day ago
Survey finds that ‘null results’ rarely see the light of the day.
@pkedrosky: Severe publication bias in the social sciences, and its consequences [link]
Marginal Revolution: Saturday assorted links
reddit/Economics: Social sciences suffer from severe publication bias : Nature
@Noahpinion: RT @mc_hankins: "Social sciences suffer from severe publication bias" says Nature[link] [link]
@Richard_Florida: RT @pkedrosky: Severe publication bias in the social sciences, and its consequences [link]
@MarkThoma: Social Sciences Suffer from Severe Publication Bias - Scientific American [link]
@JustinWolfers: Publication bias, big time. Quantified: [link]
U.K. Wants EU to Block Russia From SWIFT Banking Network
Bloomberg – 1 day ago
The U.K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine, a British government official said.
@paulmasonnews: RT @FHeisbourg: Big sanction if agreed @CanadaNATO: UK Wants EU to Block Russia From SWIFT Banking Network [link]
Business Insider: The UK Has A Plan To Cut Off Russian Businesses From The Rest Of The World
@GTCost: Sure, hit Russian grandmothers & families… RT @BloombergNews: U.K. moves to sever Russia from international finance: [link]
@jsphctrl: Link to Bloomberg’s story on UK pressing for Russia SWIFT block: [link]
@BBC_Joe_Lynam: UK will be pressing fellow EU leaders tomw to ban Russia from using the SWIFT payments platform[link]
@fiatcurrency: “@ljuti: Meanwhile, an escalation on diplomatic front. U.K. Wants EU to Block Russia From SWIFT Banking Network [link]”
@IvanTheK: Now THAT’S a red line.U.K. Wants EU to Block Russia From SWIFT Banking Network [link]
@cate_long: And Germany says? "@tomkeene: U.K. Wants EU to Block Russia From SWIFT Banking Network [link] [link]
@Pawelmorski: RT @IanWishart: U.K. Wants EU to Block Russia From SWIFT Banking Network [link] by @RobDotHutton and @ianwishart
reddit/Economics: Interbank clearing as a weapon
38 maps that explain the global economy
vox.com – 4 days ago
Commerce knits the modern world together in a way that nothing else quite does. Almost anything you own these days is the result of a complicated web of global interactions. And there’s no better way to depict those interactions than some m...
Marginal Revolution: Assorted links
reddit/Economics: 38 maps that explain the global economy - Vox
@Richard_Florida: Mapping Billionaires - @voxdotcom via @binarybits - [link] [link]
@Nouriel: RT @TheUnraveler: This rocks: RT @voxdotcom: 38 maps that explain the global economy: [link]
@INETeconomics: 38 maps that explain the global economy [link] @voxdotcom
@newsycombinator: Maps that illustrate the global economy [link]
Inside Google’s Secret Drone-Delivery Program
The Atlantic – 1 day ago
For two years, the company has been working to build flying robots that can deliver products across a city in a minute or two. An Atlantic exclusive.
Marginal Revolution: Saturday assorted links
@HamzeiAnalytics: RT @TheAtlantic: Exclusive: Inside Google’s secret drone-delivery program [link] [link]
@kaylatausche: Why $GOOG move into drones? @TheAtlantic has definitive background on the project + a visit to Oz test site: [link]
@kevinjdelaney: Great @alexismadrigal scoop on Google’s secret drone delivery program [link]
@TimHarford: Inside Google’s Secret Drone-Delivery Program [link]
@newsycombinator: Inside Google’s Drone-Delivery Program [link]
@Techmeme: Google X unveils Project Wing, its drone delivery program; tested in secret for two years [link] [link]
About David Tice’s 60% Crash Call . . .
The Big Picture – 1 day ago
He has repeatedly made the same crash call, while his fund has dropped about 2/3 since 2008, and the S&P has tripled.
‘Brushing’ casts doubt on Alibaba figures as $20bn IPO looms
Financial Times – 1 day ago
After four years managing a private delivery company in the Chinese city of Ningbo, Chen Qian has acquired a new skill: he can tell which packets are fake even before he picks them up. Some are hollow boxes, some rattle with a piece of cand...
The billion-dollar fall of the house of Espirito Santo
Reuters – 1 day ago
By promising that the bank stood behind the holding company’s debt, Salgado ignored a directive from Portugal’s central bank to stop mixing the lender’s affairs with the family business. The guarantees were also not recorded in the bank’s accounts at the time, which is required by Portuguese law.
@davidenrich: Espirito Santo boss Salgado argued not to disclose company’s mounting problems. [link] very nice by @aagalloni et al
@YanniKouts: ’The billion-dollar fall of the house of Espirito Santo’, @Reuters special report: [link] #Portugal #ECB
@mccarthyryanj: How do regulators miss Portugal’s largest bank failing years *after* the country gets a $78B bailout? [link]
@davidmwessel: There’s a movie or novel to be done from Portugal’s Espirto Santo saga. Reuters: [link] WSJ: [link]
@davidgaffen: RT @specialreports: The tale of a collapsed Portuguese bank, a family empire and 2 letters of “comfort” [link] .@Reuters ht…
IMF Completes First Review Under Stand-By Arrangement for Ukraine and Approves US$1.39 Billion Disbursement
imf.org – 1 day ago
@SpiegelPeter: #IMF on releasing $1.4bn to #Ukraine: "Govt persisted in taking difficult measures despite volatile political sit" [link]
@GTCost: RT @russian_market: Lagarde really said that? “@IMFNews: IMF approves US$1.39 billion disbursement for Ukraine [link]” http…
@jsphctrl: IMF: Ukraine programme "continues to hinge crucially" on assumption that eastern conflict ends soon. [link]
@JamesGRickards: Breaking: #IMF disburses $1.4 billion to #Ukraine [link]. I’m sure that was on the merits, nothing to do with politics.
The criminalisation of American business
The Economist – 2 days ago
WHO runs the world’s most lucrative shakedown operation? The Sicilian mafia? The People’s Liberation Army in China? The kleptocracy in the Kremlin? If you are a...
@Alea_: Companies must be punished when they do wrong, but the legal system has become an extortion racket [link]
@davidmwessel: RT @TheEconomist: This week’s cover previews:UK and Europe [link] Americas and Asia Pacific [link] htt…
@Ian_Fraser: RT @TheEconomist: This week’s cover previews:UK and Europe [link] Americas and Asia Pacific [link] htt…
@MichaelKitces: RT @TheEconomist: The criminalisation of American business is bad for the rule of law and for capitalism [link] http://t.co…
S.E.C. Commissioner Rebukes His Colleagues
New York Times – 20 hours ago
Luis A. Aguilar issued a surprising dissent that sharply criticized an enforcement action against two senior executives of an information technology company and questioned the agency’s aggressiveness.
@howardlindzon: RT @infoarbitrage: S.E.C. Commissioner Rebukes His Colleagues [link] The SEC is so weak at this point it’s barely a deterre…
@JohnLothian: S.E.C. Commissioner Rebukes His Colleagues - [link] [link]
@IvanTheK: Is he trying to make people forget the mess he caused on MMMFs?S.E.C. Commissioner Rebukes His Colleagues [link]
@MattGoldstein26: RT @dealbook: S.E.C. Commissioner Rebukes His Colleagues [link]
Don’t Want Me to Recline My Airline Seat? You Can Pay Me
New York Times – 3 days ago
I fly a lot. When I fly, I recline. I don’t feel guilty about it. And I’m going to keep doing it, unless you pay me to stop.
EconLog: Who Owns the "Right to Recline?" The Airline, by David Henderson
@MattGoldstein26: RT @UpshotNYT: In one corner: @jbarro, pro-recliner [link] In the other: @darlin, knee defender [link]
reddit/Economics: Don’t Want Me to Recline My Airline Seat? You Can Pay Me
@LorcanRK: 1,313? Guess there’s no going back now.. RT @jbarro: So far, 1,313 comments on my recline post. [link]
@vali_nasr: sign of times: UA flight made an unscheduled stop to discharge two passengers who had a dispute over seat reclining [link]
@ObsoleteDogma: Only way to make this better: there’s nothing wrong with reclining your seat *and I won’t stop even if you pay me* [link]
@morningmoneyben: I’m a tall man. I might groan when you recline your seat on me. But that’s where it ends. [link]
@CardiffGarcia: .@jbarro is correct -- [link] -- but if you disagree, fine, then I’ll just help myself to your in-flight snack and beverage.
@jbarro: RT @UpshotNYT: In one corner: @jbarro, pro-recliner [link] In the other: @darlin, knee defender [link]
@matt_levine: Fun fact: Law school is basically three years of talking about the Coase Theorem. [link]
London Property Market Falters on Price Resistance
Bloomberg – 1 day ago
London’s property market stagnated for a second month in August as buyers became reluctant to accept high asking prices amid the prospect of increasing borrowing costs, Hometrack Ltd. said.
The best of times? A conversation with Jonathan Clements
vanguard.com – 1 day ago
@jasonzweigwsj: the best of times? a @Vanguard_Group interview with [my friend] Jonathan Clements [link] #WSJ
@MichaelKitces: RT @jasonzweigwsj: the best of times? a @Vanguard_Group interview with [my friend] Jonathan Clements [link] #WSJ
Abnormal Returns: Saturday links: financial karma
@abnormalreturns: An interview with Jonathan Clements? You betcha. (via @Vanguard_Group) [link] $$
How Much Does the 32nd Player Make in Tennis and Other Sports?
Wall Street Journal – 5 days ago
The U.S. Open tennis singles champions will win $3 million as part of an event-record $38.3 million purse. But how much money is distributed to the rest of the players?
@pkedrosky: RT @stuartathompson: How much money do the top 32 players make in tennis and other sports? #USOpen2014 [link] [link]…
@BuzzFeedBen: RT @BenDWalsh: Tennis really is the sport of the 1% [link] h/t @crampell [link]
@crampell: inequality in pay in...professional sports. [link]
@JustinWolfers: The pay gap between the best, and nearly-the-best is huge, particularly in tennis.[link] [link]
@EpicureanDeal: RT @mjmauboussin: Cool graph of Convexity in Compensation in Sports [link] #usopen via @WSJGraphics
Abnormal Returns: Saturday links: financial karma
@UpshotNYT: Which sport exhibits most inequality? The least? [link] h/t [link]